The pan-European FTSEurofirst 300 closed provisionally 0.02 percent lower at 1,174.57 points. Earlier in the session, the index traded as much as 1.7 percent lower, as uncertainty over whether central banks will roll back stimulus measures continued to rattle global markets.

"We are seeing the first signs of a lack of confidence in the ability of central banks to control the interest rates, and to stimulate inflation and real GDP growth rates," said Viktor Shvets, the Asia head of strategy research at Macquarie.

Meanwhile in Greece, Prime Minister Antonis Samaras agreed to meet with opposition leaders after the government's abrupt closure of the state broadcasting service caused nationwide strikes and protests.